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DDN Diamonds North Resources Ltd

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Share Name Share Symbol Market Type
Diamonds North Resources Ltd TSXV:DDN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Diamonds North and Uranium North Report High Gold and Silver Values at Empire Creek Property

18/10/2012 3:05pm

Marketwired Canada


Uranium North Resource Corp. (TSX VENTURE:UNR) and Diamonds North Resources Ltd.
(TSX VENTURE:DDN) ("the "Companies") announce that their U.S. Subsidiary
Minerals North LLC has completed an initial exploration program on the Empire
Creek gold project in Ferry County Washington State. Numerous high grade gold
and silver values from grab samples including 21.1 g/t gold and 474 g/t silver
have been obtained in association with north-south and east-west structures
identified by magnetic surveying.


Prior to the 2012 Empire Creek field program comprehensive data compilation for
the property was completed. Historic results from surface samples and drill core
highlight high gold and silver values, however the results appeared to be random
with no apparent mineralizing control. 


Detailed property wide sampling, magnetic surveying and prospecting was
initiated to determine controls on gold and silver mineralization.
Interpretation of the magnetic data has identified two key associations on the
property: 




1.  Prominent north-south structures denoted by magnetic lows indicating
    possible silica alteration/magnetite destruction 
    
2.  A series of parallel east-west structures cross cutting the property 



At least 95% of the samples yielding 1 g/t gold or more, fall on or are within,
50 metres of an east-west or north-south structure. The majority of samples
greater than 5 g/t gold lie within two north-south trending corridors associated
with magnetic lows that extend for more than 700 metres.


"Our systematic approach has rapidly advanced the Empire Creek project. We have
highlighted high gold/silver concentrations along major structures. This
property is only 20 kilometres from the Kettle River Mill facility and 7
kilometres from the Kinross K2 deposit," says Mark Kolebaba, President and CEO
of the Companies. 


Gold and silver values from grab samples on or near the structures are shown in
the table below. 




----------------------------------------------------------------------------
Sample      Gold g/t     Silver g/t      Sample      Gold g/t     Silver g/t
----------------------------------------------------------------------------
1               21.1          112.0      8                2.0            8.9
----------------------------------------------------------------------------
2               19.2           42.3      9                1.9           19.8
----------------------------------------------------------------------------
3               11.7          241.0      10               1.9            6.6
----------------------------------------------------------------------------
4               10.8          474.0      11               1.5           23.1
----------------------------------------------------------------------------
5                3.6           12.2      12               1.2            4.4
----------------------------------------------------------------------------
6                2.7            8.0      13               1.0           25.7
----------------------------------------------------------------------------
7                2.3           15.8      14               1.0           12.7
----------------------------------------------------------------------------



As there appears to be a strong association between high gold/silver values and
high sulfide content, a VLF-EM survey has been conducted over part of the
property to identify conductive zones along structures for possible future drill
testing. Interpretation of the VLF data is underway.


Diamonds North Resources Ltd. and Uranium North Resources Corp. have formed and
jointly own Minerals North LLC, a Nevada registered company with the objective
to explore mineral potential in Washington State. This partnership demonstrates
the Companies' commitment to increasing shareholder value while maintaining a
low cost. The Companies are actively seeking joint venture partners for our
northern Canadian projects as they represent significant opportunity.


Graham Gill P.Geo, and Bruce Kienlen P.Geol are the Qualified Persons as defined
by National Instrument 43-101 reviewing the data collected and overseeing the
project. All the Minerals North samples were analyzed by ALS Canada Ltd using
ICP-MS. The historical work is from private historic reports and has not been
verified by the Company, however, it appears to have been completed under
standard best practices consistent with the time and appears to be of reasonable
quality. 


On behalf of the Board of Directors,

Mark Kolebaba, President & CEO

Statements in this press release, other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, may include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements.


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